Support Payontime

  1. Forum
  3. Pay on time supporter forums
  5. The late payment of commercial debts (interest) Act.
  7. Debt date greater than 6 years
× Welcome to the late payment of commercial debts (interest) act. Forum!

Post questions here regarding the use of the Late Payment Legislation

Debt date greater than 6 years

More
11 years 1 month ago #1048 by Aysgarth
Debt date greater than 6 years was created by Aysgarth
The debt became due on 8/5/2006 and is secured by a charging order against a FH Title. I have now been asked for a redemption statement by another creditor seeking an order for sale. The 6 year limit will not allow me to backdate to the due date so do I recalculate the original debt as being 6 years back from today as being the date of redemption?

Please Log in or Create an account to join the conversation.

More
11 years 1 month ago #1052 by Safe_UK
Replied by Safe_UK on topic Re: Debt date greater than 6 years
You are talking about a Judgment debt we assume given the mention of charging orders.

*As far as we are aware* late payment under these acts does not apply to judgment balances.

But we would encourage you to seek legal advice from a reputable solicitor if in any doubt.

Please Log in or Create an account to join the conversation.

  1. Forum
  3. Pay on time supporter forums
  5. The late payment of commercial debts (interest) Act.
  7. Debt date greater than 6 years
Time to create page: 0.117 seconds